Crude Oil Transporter Sends Dividends Up 52%

Hello and welcome to Dividend Brief, the 2 times weekly newsletter focused on dividend investing.

Today, we will look into Hershey, Paramount Global, and Diamondback Energy, highlight a few dividend stocks worth watching, as well as share companies that are about to pay a dividend in the next few days.

Consumer

Hershey Revises Outlook, Keeps Focus on Dividend Stability

Hershey recently adjusted its full-year revenue and profit expectations, citing softer demand following price hikes across its chocolates, salty snacks, and confections. These increases, aimed at countering high cocoa costs, seem to have led some consumers to seek lower-priced options or explore non-chocolate treats, reflecting a shift in generational preferences.

In response to these challenges, Hershey has introduced cost-saving initiatives and intends to trim expenses significantly over the next few years. This strategy aims to sustain profitability while dealing with raw material price pressures. Hershey also reaffirmed its commitment to returning value to shareholders through its dividend, which remains a priority amid the broader focus on stabilizing margins and adapting to evolving market conditions.

This revised outlook for Hershey aligns with recent trends among other food producers, as many are facing similar consumer shifts and competitive pressures. Hershey’s ongoing efforts to streamline costs and reinforce its dividend signal its focus on maintaining long-term financial resilience even in a fluctuating market environment.

HSY currently trades at $177 and pays a dividend of $1.37 per share, a yield of 3.09%.

Insider Timing

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Entertainment

Paramount Faces Revenue Hurdles as Streaming Gains Outpace Cable Declines

Paramount Global reported lower-than-expected revenue this quarter, as weaker box office results and a decline in its cable TV segment outweighed growth from its streaming services. Although its streaming platform showed strong subscriber gains, the traditional television business struggled with reduced ad revenue and fewer pay-per-view events. The ongoing trend of consumers cutting cable subscriptions in favor of streaming continues to challenge established media firms.

In an effort to strengthen its digital content, Paramount’s merger with Skydance Media is expected to boost content creation and expand its streaming platforms. The merger is projected to close in the first half of next year.

Positive developments in the streaming division included subscriber growth, supported by price increases and popular sports programming. The flagship streaming platform added several million new users, outperforming earlier losses and exceeding market predictions.

However, the filmed entertainment unit faced a significant drop in revenue, driven by fewer theatrical releases and reduced income from home entertainment, indicating continued headwinds in adapting to shifting viewer preferences.

PARA currently trades at $11 and pays a dividend of 5 cents per share, a yield of 1.73%.

Energy

Diamondback Energy Targets Efficiency and Growth After Major Merger

Diamondback Energy is prioritizing enhanced value from its natural gas operations while fully capitalizing on its recent $26-billion merger with Endeavor Energy. The company aims to strengthen its production strategy for the fourth quarter and into 2025.

Leadership emphasized the strategic benefits of having extensive natural gas reserves and a large surface acreage. Plans include finding innovative ways to extract more value from natural gas assets rather than relying solely on traditional electricity production.

The merger has also provided Diamondback with a substantial ownership stake in the EPIC Pipeline, setting the company up to address increasing crude oil capacity needs in the Permian Basin. This investment is expected to yield solid returns for shareholders.

Operational improvements have allowed Diamondback to lower its rig count significantly from earlier projections, maintaining production levels while reducing costs. The company has implemented faster well completions and enhanced pump rates, which have contributed to better efficiency and reduced variable costs.

Heading into 2025, the company aims to continue streamlining its processes and leveraging insights gained from the merger to maximize productivity and profitability across its assets in the Permian Basin.

FANG currently trades at $181 and pays a dividend of $2.07 per share, a yield of 4.57%.

Innovative Trade Tactics

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DKL increased its dividend payout to $1.10 per share, an increase of 52%. Its new forward yield is 11.2%

AESI grew its dividend payout to 24 cents per share, an increase of 4%. Its new forward yield is 4.6%

KRT boosted its dividend payout to 40 cents per share, an increase of 14%. Its new forward yield is 5.4%

CEIX lowered its dividend payout to 25 cents per share, a cut of 77%. Its new forward yield is 0.88%

MAIN decreased its dividend payout to 24.5 cents per share, a cut of 18%. Its new forward yield is 5.7%

RWAY dropped its dividend payout to 40 cents per share, a cut of 11%. Its new forward yield is 15.38%